U.S. Student Funding
Direct Loans Program
Laurier is approved for the U.S. Direct Loan Program. Students wishing to pursue Direct Loan Funding must complete their Free Application for Federal Student Aid (FAFSA) Master Promissory Note (MPN) each year.
Be sure to read the disclosure regarding consumer information and the overview of satisfactory academic progress.
Note: Laurier is not approved to receive Pell Grant Funding.
For more information, including eligibility requirements and frequently asked questions on borrowing and repayment, visit the U.S. Department of Education’s Federal Student Aid website.
Applying For and Processing U.S. Student Loans
Before you begin your application process, we reccomend you review the comprehensive resource for U.S. Federal Student Aid, Funding your Education: The Guide to Federal Student Aid. Students who are U.S. citizens, eligible non-citizens and who are enrolled in at least half-time in an eligible degree program can apply.
Step 1: Complete the Free Application for Federal Student Aid
Before you apply for your Direct Student/Plus loans you must complete the online Free Application for Federal Student Aid (FAFSA).
We recommend that you complete your Entrance Counselling and submit your FASFA prior to July 1 annually to ensure that the first installment of your funds will be available for Sept. Students who are enrolled in any online distance learning courses are not eligible to receive federal U.S. loan funding for these specific courses.
Reminder: Utilize the IRS Data Retrieval Tool when completing the FAFSA online. FAFSA completion is easier and more accurate when the IRS Tool is used. To access the IRS Tool, you will require your FAFSA PIN. IRS Data Retrieval also simplifies the verification process since it can be used to update income information.
Email the Student Awards Office once you have submitted your FASFA. We will begin processing loan applications in August. If we require any further information or clarification of your program, you will receive an email from the Student Awards Office.
For further instructions, visit the FAFSA Tutorial: 7 Easy Steps to completing FAFSA.
Step 2: Apply for Direct Student/Plus Loans
Complete the application for your Direct Student/Plus Loan online at StudentLoans.gov.
Sign your Master Promissory Note (MPN) and complete your Entrance Counselling and Financial Awareness Counselling. To access this site you will require the PIN that you used when you completed your FASFA.
Parents or graduate students will complete the PLUS or GRAD PLUS request if applying for these loans.
Step 3: Issuing Funds
Once your Direct loan is approved the funding will be disbursed in two equal installments (three equal installments for graduate students) early fall and early winter. The disbursement will be sent by the U.S. Department of Laurier using electronic funds transfer (EFT). The disbursement will be applied directly to the student fee account.
Once the student account has been paid in full, you may request a refund of any excess funds following the refund policy processes.
If you are receiving a Parent Direct Plus loan, this amount will be applied to the student fee account. Once your account has been paid in full, a credit may be requested for refund as per the instruction listed above in the refund policy process.
Step 4: Exit Counselling
The U.S. Department of Education requires all U.S. citizens receiving Direct Loans to participate in exit counselling shortly before they graduate, withdraw, or cease to be enrolled in at least half-time.
Go to studentloans.gov to complete exit counseling. The link can be found under "Complete Counseling" once you sign in. Information on repayment of your student loans is available on the Repayment Information section of the Federal Student Aid website.